Welcome to our dedicated page for Pardes Biosciences news (Ticker: PRDS), a resource for investors and traders seeking the latest updates and insights on Pardes Biosciences stock.
Pardes Biosciences, Inc. (symbol: PRDS) is a cutting-edge biotechnology company dedicated to solving the world's biggest problems through better chemistry. Specializing in the development of novel therapeutics, Pardes Biosciences is committed to advancing the field of medicine and improving patient outcomes.
Founded with the mission to address significant health challenges, Pardes Biosciences focuses on creating innovative solutions that target unmet medical needs. The company leverages its proprietary chemistry platform to design and develop small molecule therapeutics aimed at treating a wide range of diseases.
Recent achievements of Pardes Biosciences include successful partnerships with leading venture firms such as MediPacific, Inc. and Foresite Capital, which have provided the company with substantial financial backing and strategic guidance. These collaborations have enabled Pardes to accelerate its research and development projects, bringing their groundbreaking therapies closer to market.
Currently, Pardes Biosciences is involved in several key projects that have shown promising results in preclinical and clinical trials. The company's focus areas include antiviral drugs, oncology treatments, and other critical therapeutic areas where existing options are limited or ineffective.
Financially, Pardes Biosciences maintains a strong position with a robust pipeline of products and ongoing support from investors. The company's strategy involves continuous innovation, rigorous scientific investigation, and a commitment to addressing global health challenges.
For the latest updates and information about Pardes Biosciences, shareholders and potential investors can refer to the frequent news releases and financial reports published by the company. For further inquiries, please contact Pardes Biosciences at ir@pardesbio.com.
Pardes Biosciences, Inc. (NASDAQ: PRDS) announced that its Phase 2 trial for pomotrelvir, an oral antiviral for COVID-19, failed to meet its primary endpoint of reducing infectious SARS-CoV-2 levels on day 3 of treatment. The results indicated 70% in the treatment group and 63% in the placebo group achieved undetectable levels (p=0.57). Although participants experienced symptom relief, the company has decided to suspend further development of pomotrelvir and evaluate strategic alternatives. As of March 31, 2023, the company's cash and equivalents stood at approximately $172.4 million. No significant adverse effects were reported during the trial.
Pardes Biosciences reported its Q4 and full-year 2022 financial results, posting a net loss of $24.2 million for Q4 and $96.6 million for the full year. This compares to net losses of $14.3 million and $38.5 million in 2021, driven largely by increased research and development expenses, which rose to $19.4 million in Q4 from $10.4 million a year prior. The company's cash reserves as of December 31, 2022, stood at $197.3 million, expected to fund operations for the next twelve months. Pardes remains optimistic about the ongoing Phase 2 trial of pomotrelvir for COVID-19 treatment, with results anticipated in the coming weeks.
Pardes Biosciences (NASDAQ: PRDS) announced participation in a fireside chat at the SVB Securities Global Biopharma Conference on February 14, 2023, at 10:40 a.m. PT / 1:40 p.m. ET. The event will feature discussions about PBI-0451, a novel oral antiviral candidate for COVID-19 treatment and prevention.
Investors can access a live audio webcast on Pardes’ website, with a replay available for 30 days post-event. The company focuses on developing antiviral solutions to address pandemic challenges. For more details, visit their official site for ongoing updates and investor information.
Carver Biosciences, a Boston-based biotech firm focused on CRISPR/Cas13 antivirals, has established its Scientific Advisory Board (SAB). Dr. Cameron Myhrvold will chair the SAB, with Dr. Uri Lopatin, Dr. Olivia Merkel, and Dr. Neville Sanjana joining as members. Dr. Lopatin brings significant experience from founding Assembly Biosciences (NASDAQ:ASMB) and Pardes Biosciences (NASDAQ:PRDS), having raised over $600 million for novel therapies. The new board aims to enhance Carver's pipeline and advance its clinical programs.
Pardes Biosciences, Inc. (NASDAQ: PRDS) reported its Q3 2022 financial results, noting a net loss of $23.3 million, up from $11.5 million in Q3 2021. The increase is attributed to rising research and development expenses, now at $17.4 million, driven by advancing PBI-0451, an oral antiviral candidate for COVID-19. The Phase 2 trial commenced in September 2022, aiming to enroll 210 non-hospitalized patients at 75 sites, with results expected in Q1 2023. Cash on hand as of September 30, 2022, was $209.1 million, projected to sustain operations for 12 months.
FAQ
What is the market cap of Pardes Biosciences (PRDS)?
What is Pardes Biosciences, Inc.?
What are the core business areas of Pardes Biosciences?
Who are Pardes Biosciences' key partners?
What recent achievements has Pardes Biosciences made?
What is the financial condition of Pardes Biosciences?
How does Pardes Biosciences contribute to global health?
What are the current projects of Pardes Biosciences?
How can investors get the latest updates on Pardes Biosciences?
What is the mission of Pardes Biosciences?
How can one contact Pardes Biosciences?
